EXHIBIT (k)(xiii)
SUBSCRIPTION AGENT FEE AGREEMENT AMONG THE FUND AND COLBENT CORPORATION
[COLBENT LOGO]
The Colbent Corporation
-Proposal-
A. Fees for Services*
------------------------------------------------------- -----------------------------------------------------
Fee Service Provided
------------------------------------------------------- -----------------------------------------------------
$5000.00 Project Management Fee
======================================================= =====================================================
$1.00 Per subscription form issued and mailed
======================================================= =====================================================
$6.00 Per subscription form processed (registered and
beneficial)
======================================================= =====================================================
$6.50 Per defective subscription form received
======================================================= =====================================================
$7.50 Per notice of guaranteed delivery received
======================================================= =====================================================
$1.00 Per broker split certificate issued
======================================================= =====================================================
$1.50 Per sale of right (if applicable)
======================================================= =====================================================
$2.25 Per invoice mailed (if applicable)
======================================================= =====================================================
$.75 Per refund check issued and mailed (if applicable)
======================================================= =====================================================
$3.00 Per solicitation check processed and mailed (if
applicable)
======================================================= =====================================================
$6.00 Per withdrawal of subscription certificate (if
applicable)
======================================================= =====================================================
$1500.00 Per Pro-ration (if applicable)
======================================================= =====================================================
$1500.00 Per offer extension
======================================================= =====================================================
$5000.00 Minimum charge should the project be cancelled for
any reason prior to the mailing of the subscription
form
======================================================= =====================================================
------------------------------------------------------------------------------------------------------------------------------------
* Excludes out-of-pocket expenses as described in Section C, "Items Not Covered"
B. Services Covered
o Designate an operational team to carry out Subscription Agent duties,
including document review and execution of legal agreement, review of
subscription forms and communication materials, project management and
on-going project updates and reporting.
o Calculating Rights to be distributed to each shareholder and printing
shareholder information on the subscription form.
o Issuing subscription forms, and causing forms to be mailed to
registered shareholders.
o Tracking and reporting the number of exercises made, as required.
o Processing Rights received and exercised.
o Deposit participant checks daily and forward all participant funds to
Fund at the end of the offering period.
o Providing receipt summation of checks received.
o Issuing/ Printing (if applicable,) and mailing stock certificates
and/or checks.
o Interfacing with the Information Agent.
o Calculating, issuing and mailing of proration and/or over-subscription
checks if applicable.
o Calculating, issuing and mailing of solicitation checks if applicable.
C. Items Not Covered
o Items not specified in the "Services Covered" section set forth in
this Agreement, including any services associated with new duties,
legislation or regulatory fiat which become effective after the date
of this Agreement (these will be provided on an appraisal basis)
o All out-of-pocket expenses such as telephone line charges,
certificates, checks, postage, stationary, wire transfers and excess
material disposal (these will be billed as incurred)
o Reasonable legal review fees if referred to outside counsel.
o Overtime charges assessed in the event of late delivery of material
for mailings unless the target mail date is rescheduled.
D. Assumptions
o Proposal based upon document review and information known at this time
about the transaction.
o Significant changes made in the term or requirements of this
transaction could require modifications to this proposal.
o Proposal must be executed prior to the initial mailing.
o Company responsible for printing of materials (Rights Card, Prospectus
and ancillary documents).
o Material to be mailed to shareholders must be received no less than
five (5) business days prior to the start of the mailing project.
o No interest shall accrue to the company or the shareholders.
E. Payment for Services
o The Project Management Fee will be rendered and payable upon the
effective date of the transaction. An invoice for any out-of-pocket
and per items fees realized will be rendered and payable on a monthly
basis, except for postage expenses in excess of $5,000.00. Funds for
such mailing expenses must be received one (1) business day prior to
the scheduled mail date.
--------------------------------------------------------------------------------
The Colbent Corporation
By: /s/Xxxxxxx X. Xxxxxxxxxxx
Xxxxxxx X. Xxxxxxxxxxxx
Title: President, The Colbent Corporation
Date: 4/29/03
Boulder Total Return Fund
By: /s/Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx
Title: President
Date: 5/29/03
